Monday , December 5 2016
Home / Business / Financials / Wilful defaulters owe banks Rs 58,792 cr: All India Bank Employees Association

Wilful defaulters owe banks Rs 58,792 cr: All India Bank Employees Association

Money-4_6

New Delhi: The All India Bank Employees Association (AIBEA) has released a list of wilful defaulters who owe banks and financial institutions a total of Rs 58,792 crore. As per the list released by AIBEA, the apex body representing the banking industry, 5,610 accounts in various public sector, private and foreign banks were those of wilful defaulters.

Stating that bad loans in banks were increasing every day, AIBEA General Secretary C H Venkatachalam said as of March 31, 2016, the gross NPAs in public sector banks stood at Rs 5.39 lakh crore.

“It was Rs 2.78 lakh crore during the same period of previous year,” he said in a statement, adding that criminal action should be taken against wilful defaulters for recovery of loans.

In nationalised banks, a total of 3,192 accounts were those of wilful defaulters, who owe a sum of Rs 28,775 crore. In SBI and its associate banks, 1,546 accounts were classified wilful defaulters, with unpaid loans of Rs 18,576 crore.

A total of 792 accounts in private banks owed Rs 10,250 crore while 42 accounts in financial institutions have defaulted loans of Rs 728 crore. About 38 accounts in foreign banks have defaulted on loans of Rs 463 crore.

PTI

Read Also

houbarabustard

Visiting Qatari royals hunt endangered ‘Houbara’ in Pakistan

8